Fun

News Feed - 2023-09-08 08:09:44

Amaka Nwaokocha12 hours agoDeFi enforcement sparks dissenting opinion from CFTC commissionerThe commissioner advocated public and stakeholder engagement through rulemaking, not just enforcement.1151 Total views31 Total sharesListen to article 0:00NewsJoin us on social networksUnited States Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger said she is concerned that the agency is considering enforcement actions related to decentralized finance (DeFi) protocols rather than engaging with the public.


In a public statement issued on Sept. 7, the commissioner expressed her misgivings about the approach taken by the CFTC in these cases, arguing that enforcement actions are not the most suitable means of addressing novel DeFi technology. The commissioner believes that the CFTC should engage with the public and stakeholders through rulemaking and other regulatory tools instead of relying primarily on enforcement actions.


Mersinger said:“I am concerned that the Commission in these cases is taking another step down the path of bringing enforcement actions when we should be engaging with the public.”


Mersinger expressed openness to applying the Commodity Exchange Act and CFTC rules, especially when necessary to protect market participants from fraud and abuse, in line with the congressional mandate. However, she noted that the commission’s orders in these cases didn’t indicate any misappropriation of customer funds or victimization of market participants by the DeFi protocols subject to enforcement actions.


The commissioner raised questions about the regulatory jurisdiction over DeFi protocols, the need for clear rules and the potential consequences of enforcement without transparent rulemaking. Despite the challenges, the CFTC’s spring 2023 regulatory agenda does not include any rulemaking activities related to DeFi, leaving these issues largely unaddressed.


Related:CFTC commissioner calls for crypto regulatory pilot program


The CFTC recently announced it is taking regulatory action against three DeFi protocols for allegedly failing to register various derivatives trading offerings. The protocols are Opyn, ZeroEx and Deridex.


Deridex and Opyn face charges for not registering as swap execution facilities or designated contract markets, as well as failing to register as futures commission merchants. Additionally, the CFTC accused the two protocols of noncompliance with customer provisions outlined in the Bank Secrecy Act.


Magazine:Crypto regulation: Does SEC Chair Gary Gensler have the final say?# Cryptocurrencies# CFTC# Cryptocurrency Exchange# DeFi# RegulationAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?Human vs. AI: Who is better at crypto investing?10 years later, still no Bitcoin ETF — but who cares?

News Feed

Biggest Movers: SAND up by 12% on Wednesday, Hitting a 10-Day High
Biggest Movers: SAND up by 12% on Wednesday, Hitting a 10-Day High SAND surged by as much as 12% on Wednesday, as prices moved to a ten-day high during the session. The rise comes
ECOMI to List OMI Tokens With BitMax
ECOMI to List OMI Tokens With BitMax press release PRESS RELEASE. BitMax.io(BTMX.com), an industry-leading digital asset trading platform built by Wall Street qua
Riot Platforms boosts Bitfarms stake with $2.28M share acquisition
Amaka Nwaokocha10 minutes agoRiot Platforms boosts Bitfarms stake with $2.28M share acquisitionRiot Platforms continues navigating its complex relationship with Bitfarms while expanding its operations.51 Total viewsListe
LBank and Adanian Labs Kickstarts a ‘Crypto Accelerator Program’ in Kenya
LBank and Adanian Labs Kickstarts a ‘Crypto Accelerator Program’ in Kenya press release PRESS RELEASE.The blockchain ecosystem is growing exponentially. It has brought prosperit
Report: 75% Have Heard About Crypto in Spain, According to the CNMV
Report: 75% Have Heard About Crypto in Spain, According to the CNMV The results of a new report commissioned by the CNMV, the securities watchdog in Spain, have found that three ou
Gareth Jenkinson1 minute agoHut8 relocates 6,400 rigs, sees growth in AI & high performance computingBitcoin mining firm Hut8 continues to relocate miners from idle North Bay site as demand for AI and high power comp
Bitcoin price crumbles to $62K support, but derivatives metrics show bullish signs
Marcel Pechman3 hours agoBitcoin price crumbles to $62K support, but derivatives metrics show bullish signsBitcoin’s price continues to correct, but BTC options markets reflect traders’ interest in the $62,000 level.
Ethereum Price Holds Strong Above $2,400 — Is $2,650 The Next Stop?
Este artículo también está disponible en español. The crypto market has been under intense bearish pressure in recent days, with the Ethereum price falling by 6% in the p
Grayscale, Bitwise, NYSE American apply to list options on 3 Ether ETFs
Tom Mitchelhill4 hours agoGrayscale, Bitwise, NYSE American apply to list options on 3 Ether ETFsThe NYSE American has asked the SEC for approval for it to list and trade options for three Ether ETFs from Bitwise and Gra
Derek Andersen4 hours agoOneCoin co-founder Greenwood gets 20 years in US jail for fraud, money launderingKarl Greenwood will also have to pay back the $300 million he made in commissions in the OneCoin pyramid scheme.17
RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or Traders in India
RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or Traders in IndiaIndia’s central bank, the Reserve Bank of India (RBI), has confirmed that there is no longer any
Co-founder of Argentinian Tech Giant Globant Thinks Companies Should Take Metaverse, NFTs, and Crypto Seriously
Co-founder of Argentinian Tech Giant Globant Thinks Companies Should Take Metaverse, NFTs, and Crypto Seriously Guibert Englebienne, co-founder of Globant, an Argentinian software